According to the announcement, the 457 plan currently serves more than 5,000 employees and has more than $141 million in assets. The 401(a) plan is a new savings option for the city’s employees. Great-West also has been retained to manage the plan’s custom stable value fund.
Millie Reeves , plan administrator for the City of Jacksonville, said Great-West “distinguished itself by demonstrating its ability to offer a variety of quality funds and services at a competitive price.”
Gregg Seller, senior vice president, Great-West Retirement Services, added that plan participants will “have access to lower-cost funds, a team of three dedicated service staff, and a variety of helpful education tools designed specifically for city employees.”
More information about Great-West Retirement Services is at www.gwrs.com .